6107 S Rhodes Ave., Chicago, IL 60637

Don't miss the chance to add a rarely available oversized Woodlawn 3-Flat (plus Garden Unit) to your investment portfolio. The top three floors each boast 1500 SF units with 3-bedrooms & 1-bathroom, separate dining rooms, hardwood floors, and separate furnaces (forced air). Garden Unit features additional 1200 SF, 3-bedrooms & 1-bathroom, interior stair case to 1st floor, and walk-out rear door. Building has great foundation and structure. Owner conducted renovations in 2002 (all new roof, rear porch, garage, mechanicals, kitchens, bathrooms) and 2012 (front balcony repairs, lintels, tuck pointing). 1st Floor requires a full gut rehab and Garden Unit requires some repairs. Building will not pass regular FHA financing. FHA 203k required. Units #1 and #3 have MTM tenants paying $900/month. Unit #2 and Garden Unit are vacant. Post-renovation potential rent is up to $5700 per month with subsidized tenants. Property is located 1-block away from Washington Park, 4-blocks away from Jewel-Osco, and half-mile from the Green Line. Woodlawn continues to see increasing private investment, and the City of Chicago has numerous public projects planned for the next 5 years. The site of the future Barack Obama Presidential Center is located 1.5 miles away. Significant market demand for small multifamily properties in the area means this listing won't last long.